The post-COVID normalisation in demand has coincided with a cost-of-living crunch and soaring costs, which will squeeze sales and earnings in 2024.
have given investors a glimmer of hope that consumer confidence may be improving and the outlook for 2024 may not be as bad as initially feared.
Sales from Endeavour’s Dan Murphys and BWS bottle shops and online business slipped 1.8 per cent during the year, dragged down by weaker e-commerce sales. Retailers are now stepping up cost savings programs to minimise the impact on the bottom line. However, analysts don’t believe cost reductions will be sufficient to offset soaring costs, with many retailers facing wage and rent growth of 6 to 8 per cent this year.
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